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Decentralized Credit and Underwriting: Revolutionizing Access to Capital in Emerging Markets! In the evolving landscape of decentralized finance (DeFi), one of the most promising frontiers is decentralized credit and underwriting. As traditional finance often fails to serve billions of underbanked individuals, especially in emerging markets, DeFi is rapidly stepping in with innovative models that bring credit scoring and lending on-chain, without relying on traditional intermediaries or extensive collateral. The Problem: Collateral and Credit Access in Emerging Markets In many developing nations, access to credit is hindered by the absence of formal financial records, credit history, and the requirement for physical collateral. This excludes a large portion of the population from traditional lending institutions. Even microfinance, while impactful, often comes with high interest rates and administrative overhead. The result? A global credit gap exists where small entrepreneurs, farmer...

Hex founder and Europol fugitive Richard Heart has accused the Maker Decentralized Autonomous Organization (DAO) of failing basic tests of decentralization and autonomy. In a note concluding a long rant against a bridged version of MakerDAO’s flagship stablecoin, DAI, Heart chuckled that MakerDAO administrators have powers to override community votes or borrow barely-collateralized tokens. He prodded admins to finally exercise their authority to rug-pull the project and “do the funniest thing.” On the Ethereum blockchain, MakerDAO’s stablecoin DAI has traded near its intended $1 peg for many years. However, a copy of the MakerDAO and its DAI stablecoin on the Richard Heart-founded blockchain Pulsechain, pDAI, has crashed to near $0. Pulsechain-based DAI crashes to near $0 For context, Pulsechain is a modified version of Ethereum that copied over all of its tokens and projects as of a snapshot date. Ethereum-based projects like Uniswap and Compound each have an unau...

Blaze, a Web3 marketing automation platform powered by artificial intelligence (AI), is restructuring its infrastructure and migrating from Snowflake to Space and Time (SXT), a decentralized Web3 database powered by zero-knowledge (ZK) proofs, as reported to Finbold on February 4.   The transition will assist Blaze’ in promoting decentralization, transparency, and security both on its platform and in the Web3 space at large.  Decentralized Web3 databases Already supplying marketing analytics and automation tools utilized by leading crypto brands such as OpenSea, Animoca Brands, and Gala, Blaze is ready to put even more resources into Web3-native solutions.  Picks for you DeepSeek AI predicts Ethereum price as Eric Trump says 'it's a great time to add ETH' 24 mins ago ...

The layer-2 (L2) scaling solutions ecosystem is booming. Can crypto achieve scalability without sacrificing decentralization? The congestion and high transaction fees in established blockchains like Ethereum (ETH) and Bitcoin (BTC) have sparked a need for additional solutions to handle the increased demand. The L2 sidechains such as Arbitrum (ARB), Optimism (OP), and Polygon (MATIC) emerged as an attempt to enhance transaction capabilities while ensuring smooth and orderly operations. In short, layer-2 solutions are additional protocols or frameworks constructed on existing blockchains to improve scalability and transaction throughput. They come in various forms, such as rollups, state channels, and sidechains.  They alleviate the computational load on the main chain by offloading it to a secondary layer while ideally ensuring security and decentralization. Optimistic rollups, like Arbitrum and Optimism, take a trust-but-verify stance, treating transactions as valid unless a chal...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. In the ever-evolving landscape of web3, one thing has remained the same throughout—narratives matter. Narratives have served as the driving force behind the growth of projects. Over the past three years, we have witnessed a lot: from the defi summer of 2020 to the NFT craze of 2021 and the rise of liquid staking in 2022. Leading projects in all these narratives have seen their growth accelerated by a few years just from being a part of the narrative. You might also like: Web3 breaks ground with the convenience of a consumer-centric approach | Opinion Now, it is time for the ‘autonomous worlds’ narrative to take over. In this article, we delve into the concept of the autonomous worlds, why conventional gaming technologies fall short, and how this new narrative is set to revolutionize the gaming and virtual worlds. What i...

DeFi trading platforms are overcoming common barriers, such as limited functionality and centralization, to offer unparalleled functionality without compromising on security or control. goodcryptoX, a new DeFi trading platform , leverages Ethereum’s account abstraction feature to provide users with advanced trading functionality and a seamless user experience. Decentralized finance (DeFi) offers unique advantages over centralized platforms, empowering individuals and offering more control over their finances. In DeFi, crypto traders can leverage trustless networks to bypass intermediaries and build diversified portfolios without sharing private keys. Nevertheless, DeFi and decentralized exchanges (DEXs) have to address several key challenges to win market share from traditional crypto exchanges. Here are some of the most ardent problems: Limited functionality: DEXs focus on giving users complete control over their funds, but they don’t offer the same variety of features as cent...

Built on Camino Network, the first travel industry-focused blockchain, this Web3 travel platform aims to transform how bookings work. Powered by Camino Network, this Web3 booking platform addresses the high fees and the lack of personalization options in the travel industry while also enabling crypto payments. As financial freedom reaches the generation of digital natives — people who grew accustomed to solving their problems by tapping, double tapping or swiping — many industries realize that the only way for growth lies in technological advancements backed by sustainable practices and immersive experiences. This realization triggered a nonstop battle between innovative startups and traditional companies that mostly rely on legacy technology. The taxi industry saw one of the biggest transformations during the 2010s with the introduction of ridesharing. Powered by mobile apps, ridesharing services like Uber became popular due to lower fees and personalized experiences — quickly starti...

Pocket-sized Bitcoin miners are a stand against the “secrecy and exclusivity” of the Bitcoin mining industry, according to their inventors. While lacking in performance, micro Bitcoin mining devices should be seen as a stand against the Bitcoin ecosystem’s purportedly biggest flaw, its inventors argue. Micro Bitcoin mining devices — often open-source and pocket-sized — have been serving a niche part of the market, offering buyers a fully assembled device or a do-it-yourself-kit to mine Bitcoin (BTC) solo. Speaking to Cointelegraph, developers behind these kits admit that buyers won’t likely see much profit but argue that it’s important to fight the “secrecy and exclusivity” of the Bitcoin mining industry. One company, BitMaker, recently claimed that one could be made for as little as $3, offering an output of 50 kilohashes per second. BitMaker’s $3 50Kh/s portable miners. Source: BitMaker A spokesperson from BitMaker — a company working on micro miner s since as early as June 2022 —...

The EU’s EBSI Vector project and blockchain service provider, Protokol, are creating a blockchain-based cross-border credential verification program for EU citizens. The European Commission has moved to impleme educational and professional credentials will be verified across borders. In an announcement on June 7, the Web3 and blockchain solutions provider, Protokol, revealed a collaboration with EBSI Vector, a European Union-funded project creating a decentralized framework for cross-border verification . The project will use blockchain technology to develop the forthcoming credential verification solution, which aims to simplify the process for EU citizens to have their credential s recognized and accepted in different countries. Lars Rensing the CEO of Protokol said the goal is to create a more open, secure and decentralized digital infrastructure for the EU and beyond. “We believe that blockchain and Web3 technology have enormous potential to transform a wide range of industr...

On May 15, the chosen projects commenced the 12-week program after being granted seed funding of $30,000. Blockchain startup accelerator Cronos Labs has announced the launch of its second cohort for the Cronos Accelerator Program. The program, backed by a substantial $100 million investment, aims to support early-stage crypto projects by providing mentorship and funding opportunities.  According to an announcement sent to Cointelegraph, Cronos Labs handpicked eight projects to participate in their accelerator program. Each of the selected projects, namely Omnus, DeMe, Furrend, Solace, Sakaba, Eisen Finance, Earn Network, and CorgiAi, received upfront seed funding of $30,000 to commence their 12-week program. The chosen projects cover a diverse range of areas, including Web3 game development, decentralized social networking, pet-focused video sharing, smart-contract wallet integration, loyalty platforms for Web3 gaming, exchange aggregation for institutional trading, liquid market...

Users of the decentralized exchange will also be able to use bank transfers to purchase crypto. Decentralized exchange Uniswap has partnered with fintech company Moonpay to allow users to buy cryptocurrency on its web app using debit cards, credit cards, and bank transfers. The bank transfer option is being rolled out for users within most U.S. states, Brazil, the United Kingdom and Single European Payments Arena, also known as SEPA. In the announcement made on Dec. 20, Uniswap shared that its users will now be able to convert fiat to cryptocurrency on the Ethereum mainnet, Polygon, Optimism, and Artibrum in a matter of minutes.  1/ Go direct to DeFi Starting today, you can now purchase crypto on the Uniswap Web App using a credit / debit card or bank transfer at the best rates in Web3 thanks to our partnership with @moonpay! https://t.co/YVyk8e6d2h — Uniswap Labs (@Uniswap) December 20, 2022 According to Uniswap, decentralized exchanges (DEX) are a much safer option than c...

A survey from a sample of the general U.S. public suggests that millennials are more likely to join a DAO than any other age group. A survey sample of working Americans suggests that millennial and Generation Z workers are far more in favor of joining decentralized autonomous organizations (DAOs) and working remotely in the post-Covid-19 world . Over 1,100 Americans took part in a survey conducted by MetisDAO Foundation which explores trends in remote working preferences and the emergence of DAOs in recent years. A key consideration is the effect that Covid-19 has had on worker sentiment and the growth of DAOs in corporate governance. Citing a research report on DAOs published by the Harvard Law School Forum on Corporate Governance, the results of the survey highlight how DAOs saw their treasuries swell from $400 million to $16 billion in 2021. This coincided with growing participant figures, up from 13,000 to 1.6 million people during the same period. Drawing comparisons to some of t...